Rob Reviews Several Key Markets And Stocks Today

Welcome back everyone!  I am going to do a marathon run on some different indices!

The Bonds have been sitting here for several weeks with the accumulation bars. Shorts into the falling resistance is the only way to go. It is basing here. I have no strong bias besides to just stay out of this.

We continue to be sideways in Gold. There was a possibility for a long trade in Gold. We ended up finding much better opportunities short in the other Stock Indices. There are accumulation and distribution bars on both sides of this right now. These are the forces of good and evil. We are looking for a break out there.

Crude Oil is the same as Gold. They are back and forth chopping around. We want to see if we can break below 60, or above 63 for more than anything other than a day trading opportunity.

I started off with a long side trade this morning. This market quickly switched gears to short side trades. I went with those for the remainder of the trading room session. We could not hold above the distribution. We couldn’t even break above the distribution on the DOW. We couldn’t hold above it on any of the Stock Indices.  Everything just kind of rolled over there. All of you who are receiving my day trade alerts, you got one of those today. They are doing a great job of continuing to sell.

Let’s take a look at some other key markets here. Amazon continues to chug along. There were pull backs into the rising support. That continues to be buy opportunities for this time. We did break through the 175 level on Apple. I talked about this in my Premium Swing Trading Video recently. We broke through 175, pull back to it, for long sides above it.  It has went up a handful of dollars since that time. I will be bullish until it gets below the 175.

NFLX is very bullish still. The weekly charts are phenomenal! These are retracement type playing pulling into rising support. If it is the 20 period moving average, make sure you have a tighter stop. There might also be a channel type trade with a stop loss behind the channel. That would be my key though there. NFLX is still looking very good!

TSLA is really struggling to get a true forward momentum. It still isn’t a favored trade of mine from a swing trade perspective. I am looking to see if we can reach the top side of this. That is around the 360 level. Otherwise, I would like to break below the 320. In between those areas I get a little bit nervous. It is a basically a day trade type of instrument at that point. I would want to see this trending from a weekly basis. We have been stuck in a sideways and congested range for some weeks now.

So goes Goldman, so goes the markets. I want to get above the 272 or 272 level. I want to break above it, pull back, hold it, and then take back off again. That could be very bullish for the market as a whole.

You will notice that the DOW has been ugly. There is just no support at all. We had some nice support out of the RUSSELL. That also has led to some nice long side trades on the NASDAQ. When the RUSSELL is fading, you can bet that the other markets will probably be ugly too. We saw that in full force today. That continues to fire off to the sell side.

That is a little round up of mine. I am going to be gone for the next couple days. To get updates from news worthy people, you can go to www.wealth365.com. You can get access to a lot of great articles while I am gone. There is a lot of great information for you all to look at. Don’t miss that in my absence!

I look forward to seeing you guys next week!

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

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